Hex Trust, a Hong Kong-based crypto custodian, announced the issuance of the first native stablecoin, USDX, on Layer-1 blockchain Flare. USDX also becomes the first native stablecoin on the Flare blockchain. This stablecoin is backed by the US dollar or equivalent assets at a 1:1 ratio and can be used in lending protocols and exchanges. It also features a dedicated staking mechanism called T-Pool, which is created by decentralized credit market Clearpool.